Not surprising to anyone having financial difficulties, there was a large increase in the number of personal bankruptcy filings in the third quarter of 2009 (the latest statistics are available by the Office of the Superintendent of Bankruptcy).
Statistics for individual cities are no longer available. Instead they are published based on region. For our region, the statistics include Chatham, Windsor and Sarnia. In our region, there were 1,061 personal bankruptcy filings in the third quarter of 2009, a 44% increase from the third quarter of 2008. In addition, there were 213 consumer proposals filed, a 20% increase over the same period in 2008.
For the 12 months ending September 30, 2009 there was a 41% increase in bankruptcies and a 24% increase in consumer proposals filed. The bankruptcy numbers are not surprising since many people rushed to file bankruptcy before the change in legislation took place. In fact, in many offices the first half of September resulted in record bankruptcy filings.
Times continue to be tough in Chatham, but the message remains the same. Now is the time to develop a plan to deal with your debts.
For a no charge, no obligation to review your situation, call me at 310-PLAN, email a question or complete the online evaluation form.
About Rebecca Martyn is a bankruptcy trustee and consumer proposal administrator responsible for the Hoyes, Michalos & Associates office in Chatham, Ontario.
You must log in to post a comment.